two old cars

Before selling : 8:12 == 2000, 3000

If 2000 element is sold at 12% loss i.e. 1760 and 3000 element is sold at 8% profit i.e. 3240 then resulting gain is zero.

Ans : 1760 or 3240

As I am always a fan of Sanju,i wish i can pen down my solution.

X +Y = 5000

0.88X +1.08Y= 5000 ( accounting for the loss in X & profit in Y)

Solve for X & Y

Now the stem asks for selling price ( tricky part)

SO calculate either of .88X or 1.08Y. Look for options

I get1760 as one of the given options

gmatmachoman wrote:As I am always a fan of Sanju,i wish i can pen down my solution.

X +Y = 5000

0.88X +1.08Y= 5000 ( accounting for the loss in X & profit in Y)

Solve for X & Y

Now the stem asks for selling price ( tricky part)

SO calculate either of .88X or 1.08Y. Look for options

I get1760 as one of the given options

Thanks Govind!!

Actually whenever we trade two things at par by incurring loss on one and a gain on the other, then, mathematically, the loss happens to be equal to the gain made. If the car of loss cost him $x, then the car of gain must have cost him $(5000 - x), such that

0.12 x = 0.08 (5000 - x)

or 0.2 x = 400

or x = 2000

A loss of 12 percent brings it down to [spoiler]$1760


D

NB: Such kind of questions can be cracked in many other quicker and successful ways.[/spoiler]

Wow Sanju. This method will save a lot of time.

sanju09 wrote:

gmatmachoman wrote:As I am always a fan of Sanju,i wish i can pen down my solution.

X +Y = 5000

0.88X +1.08Y= 5000 ( accounting for the loss in X & profit in Y)

Solve for X & Y

Now the stem asks for selling price ( tricky part)

SO calculate either of .88X or 1.08Y. Look for options

I get1760 as one of the given options

Thanks Govind!!

Actually whenever we trade two things at par by incurring loss on one and a gain on the other, then, mathematically, the loss happens to be equal to the gain made. If the car of loss cost him $x, then the car of gain must have cost him $(5000 - x), such that

0.12 x = 0.08 (5000 - x)

or 0.2 x = 400

or x = 2000

A loss of 12 percent brings it down to [spoiler]$1760


D

NB: Such kind of questions can be cracked in many other quicker and successful ways.[/spoiler]

sanju your solution is clever. I definitely would do the question the same way gmatmachoman before reading your solution.